NEWS ROUNDUP — Lac announces odd-lot program

Toronto-based Lac Minerals (TSE) has initiated an “odd-lot selling program” to buy shares of Lac and certain predecessor companies from shareholders who hold 99 shares or fewer.

For shareholders with small holdings in Lac and many of its predecessor companies, the scheme provides a commission-free way of disposing of shares. The program runs until July 30. Shareholders can telephone Montreal Trust toll-free at 1-800-387-2762.

In other news, Lac is taking advantage of rising gold prices by opening up its 1993 hedge position. The company reduced its 1993 spot-deferred position to 85,000 oz. at an average price of US$333 per oz. It previously had 585,000 oz. hedged through spot-deferreds.